Short answer
NETSTREIT Corp. (NTST) filed its fiscal 2025 10-K annual report with the SEC on Feb 10, 2026. It reported revenue of $195M (+19.8% year over year) and net income of $7M.
- Top risk flagged: Cybersecurity risk with potential business interruption from breaches of company or third-party data systems
FY2025 key financial metrics · XBRL
- Revenue
- $195M
- +19.8% YoY
- Net income
- $7M
- +157.8% YoY
- EPS (diluted)
- $0.08
- +150.0% YoY
- ROE
- 0.5%
- +1.4 pp YoY
- Operating cash flow
- $110M
- +21.5% YoY
Source: XBRL data from the NETSTREIT Corp. (NTST) FY2025 10-K on SEC EDGAR. USD.
NETSTREIT Corp. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: internally managed REIT owning diversified single-tenant commercial retail properties under long-term net leases
- New emphasis on build-to-suit and reverse build-to-suit developments, including three properties under development without rent commenced
- Strategic shift: blend-and-extend acquisitions for longer lease terms with short-term leases to lower basis properties
- Portfolio growth: acquired 140 properties for $603M with WALT of 13.9 years; disposed 78 properties, net gain $7.7M
- Capital raise: $137M net proceeds from 12.4M shares public offering, plus $550M in new senior unsecured term loans raised
Management Discussion & Analysis
- Revenue from investments generated ABR $198.3M as of Dec 31, 2025; portfolio 99.9% occupied with 10.1 years WALT
- Acquisitions: 140 properties purchased for $603.0M in 2025; dispositions: 78 properties sold for $169.1M with net gain $7.7M
- Operating margin or profitability figures not explicitly stated in MD&A
- Issued common stock raising net proceeds $137.0M (July 2025 offering) plus $51.6M through 2024 ATM program; $200M and $100M term loans funded in Sept 2025
- Management expects remaining 3 developments to complete with rent commencement in 2026; maintaining investment grade rating reduces debt margins by 15-25 bps
Risk Factors
- Cybersecurity risk with potential business interruption from breaches of company or third-party data systems
- Key-person dependency on IT Manager, CFO, and Chief Accounting Officer for cybersecurity risk management and incident response
- Board audit committee oversees cybersecurity risks with quarterly reporting on threats and mitigation processes
- No specific regulatory/legal, geopolitical, supply chain, competitive, or financial risks detailed in this section
Generated from the filing text; verify against the original. How to read a 10-K
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